Cons
As an hourly employee in order to get decent wage increases you have to transfer around, as most departments don't give bonuses and raises are typically less than 3%.

Advice to Senior Management
As this college is not unionized in most departments, you should work your labor budget to allow for better merit wage increases to at least keep up with cost of living increases in order to retain talent.

Pros
If you like a higher-ed environment, Mizzou is great. From my experience as a graduate student and then full-time employee, people enjoy working for the university. It's an upbeat, friendly and focused environment and in my experience there, working with students was great. The Student Affairs Division is a lot of fun.
Benefits are good, lots of staff development opportunities, access to great campus amenities.

Cons
Standard politics that come with a state institution. Plenty of talk around money, enrollment, how departments are expected to invest in the greater university, etc. It's not unusual to find employees who should have been let go a long time ago. Depending on the department, there's not much room for growth within the department; growth potential if you're willing to move around the university.
Due to budget restrictions many schools face(d), Mizzou had a hiring and raise freeze while I was there. If I remember correctly, employees received the standard 2% raise once in a five year period. Plus side is that the school was committed to 1) raising tuition as little as possible and 2) not eliminating staff positions. You may not have gotten a raise, but I never felt like my job was in jeopardy.